CBO: Taxes Will ‘Shoot Up by More Than 30 Percent’ Over Next 2 Years

Discussion in 'Politics' started by tenthertoo, Jan 31, 2012.

  1. tenthertoo
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    tenthertoo ...worst of all I'm DULL

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    (CNSNews.com) -"The amount of money the federal government takes out of the U.S. economy in taxes will increase by more than 30 percent between 2012 and 2014, according to the Budget and Economic Outlook published today by the CBO."
    More:LINK CBO: Taxes Will

    My Gawd
     
  2. Vel
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    Vel Gold Member

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    And some of you really want to give Obama another 4 years?
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    At the same time, according to CBO, the economy will remain sluggish, partly because of higher taxes.

    “In particular, between 2012 and 2014, revenues in CBO’s baseline shoot up by more than 30 percent,” said CBO, “mostly because of the recent or scheduled expirations of tax provisions, such as those that lower income tax rates and limit the reach of the alternative minimum tax (AMT), and the imposition of new taxes, fees, and penalties that are scheduled to go into effect.”

    The U.S. economy, CBO projects, will perform “below its potential” for another six years and unemployment will remain above 7 percent for another three.

    CBO: Taxes Will
     
  3. whitehall
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    whitehall Gold Member

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    Taxes are like social security, the more the federal government confiscates the quicker the money disappears.
     
  4. ladyliberal
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    ladyliberal Progressive Princess

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    The CBO's number is a projection, not a prediction. It is based on the scheduled expiration of certain parts of the tax code (Bush tax cuts, payroll tax cuts) which are, in general, neither likely nor supported by Obama.
     
  5. Vel
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    Vel Gold Member

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    Did you miss the part that said, "and the imposition of new taxes, fees, and penalties that are scheduled to go into effect."?
     
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  6. Lakhota
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    Lakhota Diamond Member

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    I think it's interesting how the right accepts CBO when they like the numbers and reject CBO when they don't like the numbers. Very interesting...
     
  7. occupied
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    occupied Gold Member

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    Tax cuts=spending=deficits.
     
  8. DiamondDave
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    DiamondDave Army Vet

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    Hence why you FUCKING CUT THE SPENDING... not continuing to tax more and more and more...
     
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